- Article VII, Section 1; Article XII, Section 21
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- Limits state revenue collections to the prior year's allowed revenue plus an adjustment for growth based on the growth rate of state personal income over the preceding five years, with excess collections deposited in the budget stabilization fund until fully funded and then refunded to taxpayers. Define "state revenues." Allows the Legislature to increase this limit by 2/3 vote. Requires adjustment of the limitation to reflect transfers of responsibility for funding governmental functions.
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| Made Ballot: |
|
| Ballot Number: |
2 |
| Election
Date: | 11/08/1994 |
| Votes For: |
2,182,411 |
| Votes Against: |
1,489,268 |
|
